Hold onto your wallets! Bitcoin‘s price just went on a dramatic downward spiral, testing the $100,500 zone. Now it’s doing the old ‘let’s consolidate’ dance—will it dip below $100K? Stay tuned!
- Bitcoin kicked off a dramatic decline below $104,000. A move so smooth it could be on Broadway!
- It’s now cruising below $104,000 and the 100-hourly Simple Moving Average. Talk about “downward mobility!”
- Oops! A break below a key bullish trend line with support at $104,600—BTC couldn’t even hold on to that!
- If Bitcoin breaks $100,500, we might just be looking at a fresh plunge. Or, you know, another dramatic cliffhanger!
The Bitcoin Rollercoaster: Oh, What A Drop!
Bitcoin started its descent by crashing through the $104,500 support zone. At this rate, it’s like watching a falling star… except it’s not quite as pretty.
Not only did it break below the $104,200 level, but BTC is now comfortably lounging in the short-term “bearish zone”—talk about a change in ambiance!
Breaking news: BTC tested the $100,500 support zone and formed a low at $100,400. It’s like someone turned the lights out at the party.
But wait! A quick bounce above the $101,500 level happened. BTC even had a quick flirt with the 23.6% Fib retracement level. Did it even get a “thanks for the effort” on that one?
Now it’s hanging out below $103,000. Resistance? Right at $102,000. Will it break free? The drama is real with a possible $103,600 resistance. Who knows, the next act could hit $104,200!
We could see a potential rise to $105,000. Maybe.
Can Bitcoin Keep Up The Charade? Or Are More Losses Looming?
Well, if Bitcoin doesn’t make a comeback above the $103,200 resistance, it’s back to the basement! Immediate support is at $101,200—and trust me, the floor is looking like it could be the new ceiling!
Major support now lies near $100,500. And if that doesn’t hold, brace yourself for a potential dive towards $98,500. Bitcoin’s got a flair for drama, that’s for sure. If it goes below $97,200, we might as well all be crying in our digital wallets.
Technical Indicators:
Hourly MACD – The MACD is picking up speed in the bearish zone. It’s moving faster than my morning coffee kick!
Hourly RSI (Relative Strength Index) – The RSI is hanging out below the 50 level. It’s feeling a little… deflated?
Major Support Levels – $101,200, then $100,500. Pray, don’t weep!
Major Resistance Levels – $102,000 and $103,600. Hold onto your hats!
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2025-06-06 04:18